Re: Name that Subprime Credit Card Company

Capital One also has an online checking account that pays 1% interest and reimburses ATM fees amongst other nice banking options. I have a Capital One card that has 7% APR and $5,200 CL with no annual fee. To say that is subprime is just a joke.

Good to hear you had a great experience with Cap One weather they offer Prime Or Subprime. Most here where approved for there rebuilder subprime cards that was stuck at the same CL for years. An no matter which card you have with them they should treat all there customers the same. When I did call them at times it seemed like there CSR where very rude an unprofessional. So with me an Cap One it is personal. An I would advice people to stay away from them you will be very disappointed.

Re: Name that Subprime Credit Card Company

Capital One also has an online checking account that pays 1% interest and reimburses ATM fees amongst other nice banking options. I have a Capital One card that has 7% APR and $5,200 CL with no annual fee. To say that is subprime is just a joke.

Good to hear you had a great experience with Cap One weather they offer Prime Or Subprime. Most here where approved for there rebuilder subprime cards that was stuck at the same CL for years. An no matter which card you have with them they should treat all there customers the same. When I did call them at times it seemed like there CSR where very rude an unprofessional. So with me an Cap One it is personal. An I would advice people to stay away from them you will be very disappointed.

I've called several times regarding my accounts, but I've always called the backdoor numbers listed on the sticky thread (thanks for providing that info!). The CSRs that I've spoken with have without exception been very friendly and courteous. YMMV.

Re: Name that Subprime Credit Card Company

Cap One is okay with me. I have low limit cards with them, and I don't blame them, I have stinky credit. I know I seen alot of complaints about Cap One not giving out CLIs as your credit improves, but that is known is it not?

Re: Name that Subprime Credit Card Company

I think this thread would have been much more useful if there was some type of formatting behind responses...

To call out the name of a credit card company, without any backup, reasoning, or logic... it makes no sense.

That's like taking a survey of "economy" car manufacturers and having people screaming out Lexus and Lamborghini and Hyundai and Fiat and Yugo all in the same sentence without giving anyone any information as to why you feel that way. People have experienced different things, hence the invenition of "YMMV."

Let me respond to a couple of the unsubstantiated call-outs:

Capital One: Yes, they offer sub-prime cards for those with sub-prime credit. Most banks do. That doesn't qualify them as a sub-prime lender. I have a Cap1 card that was a rebuilder, it grew with me from $500 to $3000, and the CL is maxed out for the type of card. They pulled all 3 CBRs for me, which sucks, but when you have sucky credit, the lender tends to want to make sure they have the "total picture", since you are obviously a substantially higher risk. My card was opened in 2006, has never had an annual fee, and the APR has varied between 9.9% and 22.9%, depending on the phase of the moon. I have no fees for balance transfers, the online card management is among the best in my portfolio, and the CSRs have been oustanding. For me, this is not sub-prime. Additionally, close family members with better credit have CL's above $20k, APR's below 10%, and rewards that are as good as any other major bank.

HSBC: HSBC offers many credit options. They have builder/rebuilder cards, just like Cap1, and Citi, and BoA, and even *GASP* Amex (Zync). Orchard, Household, BBRZ, all could be considered sub-prime based on CL's and APR's and AFs without rewards. However, My Household Bank Platinum grew from $400 to $2000, has never had an annual fee, and the APR is in the teens. BBRZ allowed me to finance purchases at BB without an annual fee, and got me some points. What is sub-prime about that? If you have an AF, a low CL, a high APR, and no rewards.. sure.. sub-prime. But that is not necessarily the situation ALL their customers face, it's a subset. Just like some Amex customers get embarassed when their transaction is denied at a nice dinner, they get FR'd, or someone gets CLD from BoA or even PenFed or NFCU. It happens. YMMV!

Juniper: Juniper is a Barclays company. There are many cards out there for people of differing creditworthiness. My $1500 CL, no AF Juniper card doesn't offer any rewards, doesn't have a great APR or BT offers... but it works when I want/need it to, the CSRs do their jobs, and it doesn't cost me a penny, but they offered me credit when very few others would. Sub-prime? Not for me. But by no means the best out there.

Merrick: Meh. I'm undecided. I had them as a rebuilder, it worked for what it was $2k limit when I closed it due to them wanting to start charging an AF, which I declined. YMMV

I could call my Citi Diamond Preferred sub-prime because they CLD'd a $15k CL and balance chased me down to the $2k balance it stands at now. Their CSRs SUCKED for me, since I didn't get the outcome I wanted. They may have been doing a great job in Citi's eyes, or in your eyes, but I think they are sub-prime to me. YMMV. They also CLD'd our Plat Select card in half down to $5200 2 months later. Why? Because we had an account that was almost maxed out and it raised a flag. What account was it? The Diamond card they were balance chasing! Sub-prime. IMHO. Others will disagree based on positive experiences though.

I think there are very few truely Sub-prime credit card COMPANIES out there... There are many sub-prime cards, sub-prime terms, sub-prime borrowers getting the terms they rightfully deserve... but few truely subprime lenders in general. First Premier and other similar predatory lenders fall into that category.

I think this thread would have been much more useful if there was some type of formatting behind responses...

To call out the name of a credit card company, without any backup, reasoning, or logic... it makes no sense.

That's like taking a survey of "economy" car manufacturers and having people screaming out Lexus and Lamborghini and Hyundai and Fiat and Yugo all in the same sentence without giving anyone any information as to why you feel that way. People have experienced different things, hence the invenition of "YMMV."

Let me respond to a couple of the unsubstantiated call-outs:

Capital One: Yes, they offer sub-prime cards for those with sub-prime credit. Most banks do. That doesn't qualify them as a sub-prime lender. I have a Cap1 card that was a rebuilder, it grew with me from $500 to $3000, and the CL is maxed out for the type of card. They pulled all 3 CBRs for me, which sucks, but when you have sucky credit, the lender tends to want to make sure they have the "total picture", since you are obviously a substantially higher risk. My card was opened in 2006, has never had an annual fee, and the APR has varied between 9.9% and 22.9%, depending on the phase of the moon. I have no fees for balance transfers, the online card management is among the best in my portfolio, and the CSRs have been oustanding. For me, this is not sub-prime. Additionally, close family members with better credit have CL's above $20k, APR's below 10%, and rewards that are as good as any other major bank.

HSBC: HSBC offers many credit options. They have builder/rebuilder cards, just like Cap1, and Citi, and BoA, and even *GASP* Amex (Zync). Orchard, Household, BBRZ, all could be considered sub-prime based on CL's and APR's and AFs without rewards. However, My Household Bank Platinum grew from $400 to $2000, has never had an annual fee, and the APR is in the teens. BBRZ allowed me to finance purchases at BB without an annual fee, and got me some points. What is sub-prime about that? If you have an AF, a low CL, a high APR, and no rewards.. sure.. sub-prime. But that is not necessarily the situation ALL their customers face, it's a subset. Just like some Amex customers get embarassed when their transaction is denied at a nice dinner, they get FR'd, or someone gets CLD from BoA or even PenFed or NFCU. It happens. YMMV!

Juniper: Juniper is a Barclays company. There are many cards out there for people of differing creditworthiness. My $1500 CL, no AF Juniper card doesn't offer any rewards, doesn't have a great APR or BT offers... but it works when I want/need it to, the CSRs do their jobs, and it doesn't cost me a penny, but they offered me credit when very few others would. Sub-prime? Not for me. But by no means the best out there.

Merrick: Meh. I'm undecided. I had them as a rebuilder, it worked for what it was $2k limit when I closed it due to them wanting to start charging an AF, which I declined. YMMV

I could call my Citi Diamond Preferred sub-prime because they CLD'd a $15k CL and balance chased me down to the $2k balance it stands at now. Their CSRs SUCKED for me, since I didn't get the outcome I wanted. They may have been doing a great job in Citi's eyes, or in your eyes, but I think they are sub-prime to me. YMMV. They also CLD'd our Plat Select card in half down to $5200 2 months later. Why? Because we had an account that was almost maxed out and it raised a flag. What account was it? The Diamond card they were balance chasing! Sub-prime. IMHO. Others will disagree based on positive experiences though.

I think there are very few truely Sub-prime credit card COMPANIES out there... There are many sub-prime cards, sub-prime terms, sub-prime borrowers getting the terms they rightfully deserve... but few truely subprime lenders in general. First Premier and other similar predatory lenders fall into that category.

Just my $0.03.

Well said! I agree with you on this point.

For the reasons that you've stated, I stand by my assertions about both First Premier and Applied Bank. If there are any prime cards that they offer, I have yet to see them.

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